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Strategies & Market Trends : Booms, Busts, and Recoveries -- Ignore unavailable to you. Want to Upgrade?

To: elmatador who wrote (7526)	8/22/2001 7:58:11 AM
From: tradermike_1999	Respond to of 74559

Dollar is down 77 cents and sitting on the low of the other day. We had a small bounce into the Fed meeting and it just about taken out.

To: elmatador who wrote (7526)	8/22/2001 9:18:36 AM
From: KyrosL	Read Replies (1) \| Respond to of 74559

I think the US wants the dollar to go down in an orderly fashion. A slow and steady fall in the dollar is the only way to fix the current account deficit without precipitating at least a short term financial catastrophe. The problem is that everybody can now hedge their portfolio almost instantly. Just switch from US funds to Euro funds. Or just buy some foreign exchange futures or options -- like Jay just did. A slow and steady fall is almost impossible to engineer.